Why Smith & Wesson Stock Jumped Higher Friday
Firearms manufacturer Smith & Wesson Brands (NASDAQ: SWBI) reported earnings today, and the stock is bucking the overall market and moving higher. As of 11 a.m. EDT, Smith & Wesson shares were up 14%.
Smith & Wesson reported its fourth-quarter and full-year fiscal 2021 results today, noting that with full-year sales of $1.1 billion, the 169-year-old company surpassed the $1 billion annual revenue threshold for the first time. Investors liked the results and are also happy that the company announced a new $50 million share repurchase program and raised its $0.05 quarterly dividend by 60%. Smith & Wesson began paying a dividend for the first time in the past fiscal year.
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Source Fool.com
